Articles by Johan Galtung, 30 Jul 2012
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The Politics of the Economic Crisis
Johan Galtung, 30 Jul 2012 - TRANSCEND Media Service, 30 Jul 2012
The transfer of capital from investment in the real economy to speculation in the finance economy done digitally, in microseconds, is to a labor-free economy. Workers, the plague of industrial capitalists, quarrelsome, on strike, always demanding more, are out. The longer the buying and selling chains in the finance economy, the more commissions-and hence, “economic growth”-, the fewer jobs. A handful can do it; Lehman Brothers taking huge risks that are compensated by huge Goldman Sachs bonuses.→ read full article